Sustainability Report 3rd Quarter 2011 27 October

1 Index

Energy-Environmental Indicators Relevant ……..………..…………………………………………………… 3

Sustainability Index …………………………………………………………………………………..……………... 4

Economic Indicators ………………………………………………………………………………………………... 5

Operating Indicators ……….………………………………………………………………………………………. 7

Environmental Indicators ….………………………………………………………………………………….…… 10

Social indicators …………………………………………………………………………………………………….. 14

Recognition ………………………………………………………………………………………………………….. 16

Highlights …………………………………………………………………………………………………………….. 23

Notes …………………………………………………………………………………………………………………... 60

2 Relevant Energy-Environmental Indicators 3rd Quarter 2011

EMISSIONS NO NO xx 2111 124 286 t t CO ² 12 278 370 t

SO ² Particulates 5 142 t 494 t

Maximum Power Installed EBITDA Main water usage Mini-hídrica ××× 3 3 (1 017 244 10 m ) Mini-hydroelectric 159.7 MW Gás Natural (59.678 TJ) Eólica Wind 6 959.3 MW Net Electricity Biomassa Generated (1) Forest residues (3 762 TJ) Biomass 34.9 MW 42 406 GWh Hídrica Electricity Drawn from Hydroelectric 6 794.8 MW Distribution Grid NaturalCarvão Gas (51 (81 065 622 TJ) TJ) Ciclo Combinado 60 555 GWh Combined Cycle 4 611.4 MW Cogeração Electricity Supplied Coal (75 888 TJ) Cogeneration 274.5 MW 60 494 GWh Térmica Convencional (m) Fuel-oil (522 TJ) Conventional Thermal 3 586.7 MW

(1) Does not include steam production. (2) Refers to sub-products. Total Hazardous Ash and Coal (2) Slag Gypsum (2) Waste Waste 385 515 t 20 884 t 168 619 t 129 457 t 3 Sustainability Index 3rd Quarter 2011

Main Factors 3rd Qtr 2010 3rd Qtr 2011

• Renewables investment 65.4% 57.0% Sustainability Index base 100:2006 (1)

• Specific CO 2 emissions (t/MWh) 0.236 0.279 129.5 0.27 0.26 • Specific No x emissions (g/kWh)

• Specific SO 2 emissions (g/ kWh )) 0.15 0.12 128.9 • Specific waste production(g/kWh) (2) 8.2 8.8

•% of working women in total 21 % 20% 3rd Quarter 2010 3rd Quarter 2011 employees

• Training hours / Hours worked 1.9% 1.9%

• EDP severity rate 119 178

(1) Sustainabiindex developed by EDP and based on 26 performance indicators in the area of sustainability (www.edp.pt/sustentabilidade lity /abordagemasustentabilidade/ ); (2) The specific production was calculated on the net 4 production of added steam. Sustainability Indicators 3rd Quarter 2011

Year-on-year Economic Indicators Q3 2010 Q3 2011 2011 Target Change 11/10

GVA per employee (€) (1) 287 596 276 042 -4.0 % 371 536 Turnover (EUR millions) 10 239 11 162 9.0% 14 873 Energy services billed (EUR thousand) 15 279 474 14 773 692 -3,.% n.d. Direct economic value generated (EUR millions ) (1) 11 015 12 014 9.1% 15 413

Net operating investment (EUR millions) 1 959 1 353 -30.9% 2 217 Investment in renewable energies (EUR millions) 1 282 770 -39.9% 1 350 Investment in renewables as a proportion of total investment (%) 65.44% 56.91% -8.54 p.p 60.89% Economic value distributed (EUR millions ) (1) 9 447 10 596 12.2% 12 598 Staff costs 525 472 -10.2% 611 Supplier costs 622 648 4.3% 941 Community costs 10 14 43.3% n.d. Community contributions 194 224 15.3% 272

Net profit (EUR millions) 774 825 6.5% 1 027 Annualised return on equity (%) 28.23% 30.07% 1.84 p.p 28.09% Market capitalisation (EUR millions) 9 193 8 955 -2.6% n.d. Economic value retained (EUR millions ) (1) 1 568 1 418 -2.6% 2 815

(1) Figures for 2010 revised in accordance with provisions of Global Reporting Initiative. 5 Sustainability Indicators 3rd Quarter 2011

GVA per employee (EUR) Investment (EUR millions)

1,959 287,596

1,353 Net operating investment (milhões €)

276,042 Investment in renewable energy (milhões €) 1,282 770

3rd Quarter 2010 3rd Quarter 2011 3rd Quarter 2010 3rd Quarter 2011

Economic value distributed (EUR millions) Net profit (EUR millions) 825 10,596 ,9.447

774

3rd Quarter 2010 3rd Quarter 2011 3rd Quarter 2010 3rd Quarter 2011

6 Sustainability Indicators 3rd Quarter 2011

Year-on-year Operating Indicators Q3 2011 2011 Target Q3 2010 Change 11/10

Electricity generation Maximum installed capaciy EBITDA (MW) 21 163 22 421 5.9% 22 763 Renewables capacity EBITDA (MW) 13 118 13 949 6.3% 14 279 Renewables capacity as a proportion of total capacity (%) 61.99% 62.21% 0.22 p.p 62.73% Net electricity generated (1) (GWh) 42 381 42 406 0.1% 61 778 Generation from steam (GWh) 1 504 1 577 4.9% n.d. Net generation from renewables (GWh) 27 841 27 019 -3.0% 37 636 Renewables generation as a proportion of total net generation (%) 65.69% 63.72% -1.98 p.p 60.92% Total GWh generated per employee 3.51 3.53 0.4% 5.07

Distribution of electricity Electricity distributed (GWh) 60 158 60 555 0.7% 82 648 Electricity supply points 9 503 636 9 616 108 1.2% 9 406 666 Installed Capacity Equivalent Interruption Time (TIEPI) (min) (1) 123 80 -35.1% 180 Equivalent Interruption Time per Consumer (DEC) (hours) (2) 27 21 -23.3% 23 Total GWh distributed per employee 4.99 5.04 1.0% 6.79

Electricity Supplied (GWh) 62 840 60 494 -3.7% 80 566 Free market supply (GWh) 28 004 29 986 7.1% 41 584 Supply of last resort (GWh) 34 837 30 508 -12.4% 38 982

(1) Related to Portugal and Spain; (2) Related to Brazil 7 Sustainability Indicators 3rd Quarter 2011

Year-on-year Operating Indicators Q3 2011 2011 Target Q3 2010 Change 11/10

Number of electricity supply customers 9 816 151 9 909 309 0.9% 9 972 187 Free market supply 919 802 988 010 7.4% 334 848 Supply of last resort 8 896 349 8 921 299 0.3% 8 637 339 Green tariff Energy sold (GWh) 8 808 19 544 121.9% n.d. Number of customers 386 884 348 884 -9.8% n.d. Social Tariff Energy sold (GWh) 284 320 12.4% n.d. Number of customers 424 870 392 988 -7.5% n.d. Special Needs costumers Energy sold (MWh) 724 805 11.2% n.d. Number of customers 718 863 20.2% n.d.

Gas distributed (GWh) 39 251 40 692 3.7% 49 633 Gas supply points (GWh) 1 220 254 1 253 694 2.7% 1 260 964 Gas supplied (GWh) 26 703 27 018 1.2% 35 494 Number of gas customers 1 064 954 1 060 287 -0.4% 1 104 784 Free market 676 598 680 550 0.6% 751 169 Last resort 388 356 379 737 -2.2% 353 615

8 Sustainability Indicators 3rd Quarter 2011

Installed capacity (MW) Net electricity generation (GWh)

22,421 42,381 42,406 21,163

Installed capacity (MW) Produção de electricidade Installed líquida (GWh) renewables Produção de capacity (MW) electricidade líquida renovável 13,118 13,949 27,841 27,019 (GWh)

3rd Quarter 2010 3rd Quarter 2011 9M 2010 9M 2011

GWh generated per employee Electricity distribution and electricity supply points 3.53 9,616,108 60.600 9.640.000 9.620.000 60.500 9.600.000 60.400 9.580.000 60,555 60.300 9.560.000 9,503,636 9.540.000 3.51 60.200 9.520.000 60.100 9.500.000 9.480.000 60.000 60,158 9.460.000 59.900 9.440.000

3rd Quarter 2010 3rd Quarter 2011 3rd Quarter 2010 3rd Quarter 2011 Electricity distribution (GWh) Electricity supply point

9 Sustainability Indicators 3rd Quarter 2011

Year-on-year Environmental Indicators Q3 2011 2011 Target Q3 2010 Change 11/10

Primary energy consumption (TJ) 126 949 141 298 11.3% n.d. Total for generation 126 765 141 046 11.3% 209 365 Coal 54 557 75 888 39.1% 117 235 Fuel-oil 729 522 -28.4% 212 Natural gas 59 678 51 065 -14.4% 78 089 Balst furnace gas 6 121 7 418 21.2% n.d. Coke gas 1 016 1 130 11.3% n.d. Diesel 329 63 -80.8% n.d. Forestry waste 3 165 3 762 18.9% 4 102 Steel plant gas 1 171 1 198 2.3% 9 726 Vehicle fleet fuel 184 253 37.6% n.d.

Electricity consumption Power stations (MWh) 1 244 904 1 427 675 14.7% n.d. Administrative buildings (MWh) 23 769 20 485 -13.8% n.d.

Certification ISO 14001 No. of production facilities certified (ISO 14 001) 83 108 30.1% 164 Net maximum installed capacity certified (%) 68% 70% 1.67 p.p. 72% No. of substations certified (ISO 14 001) 21 43 104.8% 93 Installed capacity of substations certified (%) 3% 7% 4.30 p.p 23% Certified gas distribution (ISO 14 001) (%) 100% 100% 0.0 p.p 100%

10 Sustainability Indicators 3rd Quarter 2011

Primary energy consumption (TJ) Primary energy consumption 3rd Quarter 2010 141,298 Coal 5% Fuel-oil

Natural Gas 126,949 43% Balst Furnance Gas

Coke Gas 47% Diesel

Forestry waste

3rd Quarter 2010 3rd Quarter 2011 Vehicle Fleet 1%

Primary energy consumption 3rd Quarter 2011

Coal 5% Fuel-oil

Natural Gas

Balst Furnance Gas Coke Gas 37% 54% Diesel

Forestry waste

Vehicle Fleet 0%

11 Sustainability Indicators 3rd Quarter 2011

Year-on-year Environmental Indicators Q3 2011 2011 Target Q3 2010 Change 11/10

(1) CO 2 emissions (kt) 10 373 12 279 18.4% 14 583

CO 2 emissions from vehicle fleet (kt) 13.3 14.5 8.7% n.d.

NO x emissions (kt) 12.0 11.3 -5.6% 24,98

SO 2 emissions (kt) 6.6 5.1 -22.2% 16,38 Particulate emissions (kt) 0.299 0.494 65.2% 1,46 (2) Overall specific CO 2 emissions (g CO 2/kWh) 236 279 18.1% 236 (2) Overall specific NO x emissions (g NOx/kWh) 0.27 0.26 -5.8% 0,40 (2) Overall specific SO 2 emissions (g SO 2/kWh) 0.15 0.12 -22.3% 0,27

CO 2 emissions intensity (g/€) 1 013 1 100 8.6% 981

Main Water usage (10 3 m3) 751 642 1 017 244 35.3% n.d. Refrigeration water 747 521 1 011 744 35.3% n.d. Raw water 3 892 5 244 34.7% n.d. Drinking water 229 256 11.9% n.d.

Total waste (t) 360 033 385 515 7.1% n.d. Total hazardous waste (t) 3 770 20 884 453.9% n.d. Recovered waste (%) 91% 72% -19.0 p.p n.d. Sub-products (t) (3) n.d. 298 076 n.a. n.d. Environmental expenses (EUR millions) 57 44 -22.0% n.d. Environmental investment (EUR millions) 42 34 -20.4% n.d. Environmental investment as a proportion of total investment % 2.15% 2.48% 0.3 p.p. n.d. Environmental fines and penalties (EUR thousands) 4 0 -98.9% n.d.

(1) Not including vehicle fleet; (2) Calculated for net generation, as stipulated in the Global Reporting Initiative 12 (3) In 2010 began the process of declassifying certain residues (gypsum, fly ash and slag). Sustainability Indicators 3rd Quarter 2011

Specific CO 2 emissions (g/kWh) NO x and SO 2 Specific emissions (g/kWh)

279

0.27

236 0.26 0.15 0.12

3rd Quarter 2010 3rd Quarter 2011 3rd Quarter 2010 3rd Quarter 2011

NOx SO2

Waste per unit of electricity generated (g/kWh) (1)

9.1

8.5

3rd Quarter 2010 3rd Quarter 2011

(1) Specific production was calculated related to net production . 13 Sustainability Indicators 3rd Quarter 2011

Year-on-year Social indicators Q3 2011 2011 Target Q3 2010 Change 11/10

Employment Total number of employees (M+F) 12 065 12 024 -0.3% 12 176 Total number of employees 2 562 2 394 -6.6% n.a. Staff turnover 0,04 0,04 8.3% n.a. Absenteeism (%) 3,57% 3,44% -0.13 p.p n.a. Personnel costs (EUR thousands) 435 913 432 198 -0.9% 610 619 Social benefits (EUR thousands) 89 342 39 567 -55.7% 118 792 Training Total number of training hours 276 601 314 877 13.8% 528 554 Employees trained (%) 88.72% 70.59% -18.13 p.p n.a. Training costs (mil €) 4 670 4560 -2.4% 10 497 Work productivity 234 205 -12.3% n.a. Prevention and safety 31 -3.1% On-duty Accidents (number) 32 ... (1) 178 49.3% Severity index EDP (Tg) 119 ... (1) 1.92 -6.8% Frequency rate EDP (Tf) 2.06 ... (1) 2 0.0% On-duty death accidents Contractors (number) 2 ... (1) 162 4.5% On-duty accidents with disability Contractors (number) 155 ... (1) 3.80 -25.1% Frequency rate EDP and Contractors (Tf_total) 5.07 ... (1)

(1) Target set in accordance with the EDP accident prevention and safety action plan, which seeks to achieve a 10% 14 reduction on the figures recorded in 2010. Sustainability Indicators 3rd Quarter 2011

Number of employees Total hours of training (h)

12,065 314,877

276,601 12,024

3rd Quarter 2010 3rd Quarter 2011 3rd Quarter 2010 3rd Quarter 2011

EDP frequency rate and Severity rate

4 190 180 170 3 160 150 140 2 130 120 110 1 100 3rd Quarter 2010 3rd Quarter 2011

Frequency rate Severity rate

15 Recognition 3rd Quarter 2011

16 Recognition 3rd Quarter 2011

Awards and other accolades for the EDP Group and its companies

Feb 7th - Prémios Reputação 2010 - EDP received awards in the first The projects were devised by micro-companies responsible for Prémios Reputação for the A tua energia (Your energy) project in creating 54 new jobs and almost 2 million euros in initial investment. the Energy, Environment and Ecology category, its Annual Report The programme began in June 2010 and attracted more than 100 and Accounts in the Financial Communication, Mergers and would-be entrepreneurs. It involved them in training, the discussion Acquisitions category, the Concert at Alqueva Dam, in the Events of ideas and guidance on bringing their projects to maturity. EDP category, edpON Corporate Television in the Corporate TV & Video set up a partnership with EEIG GLOOCAL-SPA Consultoria and the category and ON magazine in Corporate Publications. These prizes municipal councils in the areas in which the three dams are from APECOM (Associação Portuguesa das Empresas de Conselho located. Nineteen local organisations were also involved. em Comunicação e Relations Públicas ) are awarded to the best work and the best corporate communication and public relations Feb 28 th - EDP is SAM Gold Class and world leader in the electricity experts. sector in 2011 - For the fourth year running, EDP has been included in the global Sustainability Yearbook 2011, which features 15% of Feb 15 th - EDP Renováveis in Brazil receives award for the most the companies with the best sustainability performance in each of innovative company - Cenaeel in Santa Catarina has the 58 sectors evaluated by SAM. It was given Gold Class SAM 2011 been voted the most innovative electricity company in the by SAM sustainability investing. It has also been declared world southern region of Brazil by Amanhã magazine. The champions of leader in the electricity sector in 2011. innovation are chosen in partnership with Edusys, a consultancy firm that uses the Innovation Index method. Apr 15 th - EDP is one of the best “leadership schools” - EDP is placed second in the ranking of the Best Companies for Leadership in Feb 17 th - EDP Empreendedor Sustentável Sabor 2010 - EDP Portugal, a worldwide study conducted by the Hay Group awarded a cash prize to eight of the 21 projects that reached the consultancy firm, which highlights the best companies for training final phase of this initiative, which was designed to foster the leaders. The Hay Group assessed 67 companies in Portugal for the creation of jobs and increase the business dynamic in the area of 2011 ranking. the Baixo Sabor, Bemposta and Picote dams.

17 Recognition 3rd Quarter 2011

Awards and other accolades for the EDP Group and its companies

Apr – EDP was considered the best European company in terms of May 02 sd - Radio Advertising Awards - The EDP radio spot in support financial report, by “2011 IR Global Rankings” – In terms of financial of the Super Bock Super Rock Festival won an award at the Radio report, EDP was considered an excellent example taking into Advertising Awards in the Marketeer and Social Responsibility consideration its accuracy, transparency and coherence, as well category. The spot was developed by the Euro RSGC agency. as the quality of information which provides. The evaluation was held by an independent committee testing results and evaluations May 13 th - EDP receives Marketeer 2011 Awards - EDP won the developed by IR Global Rankings analysts, as well as other “Energy” category of the Marketeer 2011 Awards. Paulo Campos procedures deemed necessary to provide a reasonable basis for its Costa, EDP’s Brand and Communication Manager, received the assessment. This evaluation is held in order to ensure that the results award at a ceremony held in Terreiro do Paço , Lisbon, on 11 May are independent. 2011.

May 02 sd -EDP wins Energy Efficiency Awards - The "Energy Jun 03 rd - InovCity in Évora is made a European reference project - Efficiency Barometer Portugal 2010", first launched in 2010, aims to InovGrid was selected by the European Commission and evaluate and reward the energy efficiency performance of Eurelectric as a single case study from among more than 260 companies. In a universe of the 2,500 largest Portuguese Europewide projects of smart energy networks. InovGrid was companies (selected based on turnover), the barometer analysed chosen because it demonstrates, in an integrated and how companies use energy in their processes, facilities and comprehensive manner, the many benefits of smart grids in their activities. This initiative is organized by PremiValor Consulting in core areas: customer/consumer and operator and distributor of conjunction with referral partners, and also has the institutional electricity, through a service of improved quality, more information support of ADENE, the Directorate-General for Energy and Geology to the consumer, allowing them to have an active participation in (DGEG) and the BCSD Portugal. managing their consumption and ensuring greater operating efficiency by the operator.

18 Recognition 3rd Quarter 2011

Awards and other accolades for the EDP Group and its companies

Jun 14 th - EDP Soluções Comerciais wins two awards in the field of Jul 8 th – Deloitte Awards 2011 - Deloitte's annual Investor Relations contact centre management - EDP Soluções Comerciais wins two and Governance Awards 2011 took place at Beato Convent. EDP awards in the contact centre management field: 1st place in the received an award for the Best Annual Report in the non-financial category of best contact centre of the utilities sector and the sector category and Rui Teixeira, CFO of EDP Renováveis, was Innovation 2011 prize, awarded to the organisation that most voted best CFO Investor Relations. contributed to innovation in the area of contact centres in Portugal. Jul 11 th - EDP Excellence in Communication for the third year running - The intranet, television and special edition edplife Jun 15 th – Investco won best advertising campaign award - received an award for excellence in communication from APCE - Investco won the award of Organização Jaime Câmara for the Associação Portuguesa Comunicação de Empresa. “Best corporate advertising spot broadcast on television in the state of Tocantins, for 2010”. The winning spot presented the company’s Jul 15 th - EDP no Brasil, Enerpeixe considered child-friendly social and environmental responsibility initiatives. company - Just like EDP Bandeirante and EDP Escelsa, Enerpeixe, the company that operates the Peixe Angical hydroelectric power Jun - European award for a research project of Natugas Energía – station in Tocantins, has been recognised by Fundação Abrinq as a The R&D+Innovation project conducted by Naturgas and the child-friendly company for its commitment to Brazilian children and Basque Country University on the energy generation fro methane young people. Coordinated by Instituto EDP, the projects for which was an award winner at the Congreso Europeo de Tecnología the company was acknowledged were: “EDP at Schools” and "A Gasista, EGATEC 2011. World to Call Your Own".

19 Recognition 3rd Quarter 2011

Awards and other accolades for the EDP Group and its companies

Jul 15 th - EDPR was recognized for having the “Best Sustainability EDP no Brasil is among the five best companies in the electricity Agreement” in 2010 during the EMEA Finance 4th Annual sector according to As Melhores da Dinheiro 2011, a special Achievement Awards - The award was for the ambitious wind farm publication by Isto É Dinheiro magazine. The company was also project EDPR is developing in Margonin, Poland, and the unique one of the four best in quality and innovation management. The long-term financing agreement that it has put in place to fund it. award lists the best companies in 27 sectors in Brazil based on Furthermore, the high quality of the project has been confirmed by performance in five management areas: finance, human a wide range of financing institutions, including the EIB (European resources, innovation and quality, social responsibility and Investment Bank) and the EBRD (European Bank for Reconstruction governance. This is the second year running that the company has and Development). featured in the rankings.

Aug 03 rd – EDP no Brasil among the largest companies in Latin Sep 08 th - EDP world leader in electricity sector in Dow Jones America - A survey by América Economia magazine places the Sustainability Index for second year running - The Group has held company in 177th position out of 500. As in Exame magazine, EDP is on to first place in the Dow Jones Sustainability Index and even quoted in the July edition of América Economia, “500 largest improved on its 2010 score. The company's good performance in companies in Latin América – good results in 2010 place Brazilian this field was also acknowledged when it entered the FTSE4Good firms among the best in the rankings”. According to the survey, EDP Index Series in first semi-annual review and maintained in the Bandeirante is in 401st place, stepping up the company's growth in second semi-annual review. EDP is on the Dow Jones Sustainability the energy distribution, generation and supply sectors in Latin World Index (DJSI World) and European Dow Jones Sustainability America. Europe Index (DJSI Europe) for the fourth year running. This year, the company's score was 86 points, two more than in 2010 and it is the world leader of electric sector in the Social Dimension. Out of 22 criteria, EDP has the best practices in 10 and received the maximum score in six.

20 Recognition 3rd Quarter 2011

Awards and other accolades for the EDP Group and its companies

Sep 13 th - EDP world leader in electricity sector in Dow Jones Sustainability Index for second year running - The Group has held on to first place in the Dow Jones Sustainability Index and even improved on its 2010 score. The company's good performance in this field was also acknowledged when it entered the FTSE4Good Index Series. EDP is on the Dow Jones Sustainability World Index (DJSI World) and European Dow Jones Sustainability Europe Index . (DJSI Europe) for the fourth year running. This year, the company's score was 86 points, two more than in 2010 and it is the world leader in the Social Dimension. Out of 22 criteria, EDP has the best practices in 10 and received the maximum score in six.

Sep 20 th - EDP member do FTSE4Good - The FTSE4Good Index Series is an index that assesses quoted companies' sustainability. It has existed for around 10 years and is different from the Dow Jones indexes because of the sustainability dimensions considered and the way they are evacuated. It only assesses social and environmental dimensions and the corporate governance component in the economic dimension. The index focuses a lot on European and Asian investors. More than 2,300 companies are assessed and fewer than half of them qualify to be included in the index.

Sep 20 th - EDP Renewables is a member of FTSE4Good Index series, in accordance with its the second annual revision

21 Recognition 3rd Quarter 2011

Acknowledgement of members of the company's managing bodies, companies and other employees Jan 5 th - Prémio Cidadania Júnior for employees' children - Eight EDP employees' children were picked out for their good school and civic practices in Conciliar Programme and won cheques for between €500 and €1,500. EDP received 107 entries in three classes (9th grade, 12th grade and higher education).

Feb 7th - Prémios Reputação 2010 - The first Prémios Reputação awarded prizes to António Mexia, EDP's CEO, who was voted Communication Personality of the Year. This prize from APECOM (Associação Portuguesa das Empresas de Conselho em Comunicação e Relations Públicas) goes to the best corporate communication and public relations experts.

22 Highlights 3rd Quarter 2011

23 Highlights 3rd Quarter 2011

Jan.

5th - Fundação EDP and Fundação Benfica together in fighting truancy and school failure - The aim of Para Ti Se Não Faltares (For you is you don't miss school) is to combat truancy and improve the grades and attendance rates of children at risk aged 6 to 16. It fosters social inclusion, equal opportunities between the genders, the development of social and personal skills and orientation towards merit. The project will take place in Porto, Portalegre and the Tua region, focusing particularly on the areas where EDP is making new investments in hydroelectric power. Fundação EDP, the main patron, will donate €495,000 to the project by 2013 in order to benefit around 500 children.

17 th - Study visits 2010 - The facilities of EDP Produção received 41,962 visitors and 2010 was the year with the largest number. Cávado-Lima was the power plant visited most, with 17,000 visitors.

20 th - EDP introduces SOS Brasil - EDP in Brazil and Instituto EDP started the SOS Brasil campaign to help collect goods for the victims of the heavy rains, floods and landslides in different states in Brazil, especially in the Group's concession areas, such as São Paulo and Espírito Santo. EDP in Brazil asked its employees to help collect toiletries, cleaning products, clothing and non- perishable foodstuffs.

EDP distributes energy-saving light bulbs to residents of eight municipalities in the Leiria district - In 11 days EDP gave four energy- saving bulbs in exchange for four incandescent ones to everyone coming to the EDP light bulb swap van. This campaign was part of the ECO EDP Programme, and its target was to hand out 800,000 compact fluorescent bulbs in mainland Portugal. Throughout its life, this campaign will help save energy equivalent to that used by more than 66,000 households in a whole year and prevent CO 2 emissions, representing the annual carbon footprint of over 9,000 people. It avoids energy costs of more than 20 million euros.

EDP no Brasil rescues fish - An operation called Resgate de Peixes (Fish Rescue) took place at UHE Mascarenhas, in the municipality of Baixo Guandu, Espírito Santo at the end of January. Around 2.4 tonnes or six million fish were rescued.

24 Highlights 3rd Quarter 2011

Feb.

1st - EDP donated 73 tonnes of goods to charity - The goods were donated to 340,000 beneficiaries. The Recolha de Bens EDP 2010 Campaign took place in December 2010 and January 2011 and also involved the Group's companies in Spain and Brazil. In Portugal, EDP employees contributed 519 hours of volunteer work and helped collect 34 tonnes of goods. They were donated to 99 charitable institutions and helped around 334,000 people. Thirty-seven tonnes of goods were collected in Brazil and two tonnes at Naturgás in Spain. The partners in this project were Urbanos, Fundação Benfica, Ativism and Mop, along with Diário Económico, Lusa and TSF as media partners.

18 th - EDP begins construction of Foz Tua Dam - Work began on the Foz Tua Dam after the signing of the contract awarded to the Mota-Engil / Somague / MSF consortium. The project involves an investment of 305 million euros and will help to create 4,000 jobs, 1,000 of them directly, over the next five years. Foz Tua will begin to generate power in 2015. It will have an installed cap aci ty of 251 MW and will generate a gross average of 585 GWh a year, net average of 275 GWh year. Five municipalities will participate in setting up Sociedade de Desenvolvimento Regional do Vale do Tua, in order to enhance the region's local resources. The Tua line has been closed down between the dam and Brunheda station and a mobility project will be undertaken with a multimodal system for which EDP will provide a maximum of 10 million euros to leverage the overall financing of the project's key activities.

18 th - EDP signs agreements with the WindFloat project - EDP signed a project agreement and a turnkey contract with several partners to set up the first real-scale WindFloat equipped with a two megawatt V80 offshore off the Portuguese coast. InovCapital, Principle Power, Vestas Wind Systems A/S, A. Silva Matos and Fundo de Apoio à Inovação are some of the partners. The system will be tested at an EDP wind farm in Aguçadoura, where it will be connected to the grid for at least 12 months.

25 Highlights 3rd Quarter 2011

Feb.

19 th - General meeting of Associação Dadores de Sangue da EDP - The general meeting of our blood donors' association, Associação de Dadores de Sangue da EDP, was held in Porto. All members were invited.

24 th - EDP opens FabLab - EDP opened the first prototyping lab in Portugal, FabLab (Fabrication Laboratory). It is open to the community as a whole for quick implementation of ideas and projects. It has laser cutting machines, vinyl cutters, small and large milling cutters and 3D printers. It is based on the principle of learning by doing.

EDP distributes energy-saving light bulbs in four municipalities in the Évora district - EDP handed out energy-saving light bulbs to the residents of Arraiolos, Mora, Redondo and Viana do Alentejo in the Évora district in exchange for four incandescent bulbs taken to the EDP bulb swap van. This was part of the ECO EDP Programme .

26 Highlights 3rd Quarter 2011

Mar.

2nd - Call for tenders for road to Alvito Dam - Under an agreement between EDP Produção and Vila Velha de Ródão Municipal Council, a call for tenders will be issued for the restoration of Municipal Road 1355 between the IP2 and Vale do Cobrão and Foz do Cobrão. It should be completed in March 2012. The agreement has been approved by the local authority and ratified by Vila Velha de Ródão Municipal Assembly.

23 rd - New volunteer programme at EDP - The new programme was introduced after a survey of EDP employees on volunteer work in Portugal in December 2010. It provides for each employee taking four hours a month to join EDP's volunteer team.

23 rd - EDP no Brasil benefits hospitals with EE programme - EDP Escelsa will benefit 10 institutions and hospitals with its energy efficiency programme. It involves an investment of R$ 1.2 million and will help save 819 MWh of electricity per year, a reduc tio n de 272 KW, equivalent to the consumption of 340 homes. The plan provides for the replacement of 6,108 lighting points, 298 air conditioning units and 128 refrigerators.

25 th - EDP no Brasil opens two substations – The state of Espírito Santo will have two new EDP Escelsa distribution substations, which will benefit more than 25,000 inhabitants. They involved an investment of more than R$ 5 million.

EDP Renováveis obtains OHSAS 18001:2007 certification - An audit of the occupational risk management system at EDP Renováveis Europa was conducted in 2010. It resulted in renewal of its OHSAS 18001:2007 certification.

27 Highlights 3rd Quarter 2011

Apr.

01 st - Ribeiradio-Ermida hydroelectric plant hosts Ribeiradio-1 Primary School - As part of the World Water Day celebrations, Ribeiradio-1 Primary School visited Ribeiradio-Ermida hydroelectric plant on 22 March. This was the first visit to the site, having completed the first step of a long journey in publicising the project among the local communities.

05 th - EDP Escelsa, in Brazil, is a highlight of “Luz para Todos” - Representatives of the State management committee of the “Luz para Todos” (Light for All) programme met with EDP Escelsa to take stock of the programme in Espírito Santo state and to share the future actions and benefits it will bring to the population. More than 200,000 households will benefit in Espírito Santo. The company was praised by the Ministry of Mines and Energy for contributing to the distribution of electricity to more than 13 million people.

07 th - EDP and local authorities create Tua development agency - EDP and the municipal councils of Alijó, Carrazeda de Ansiães, Mirandela, Murça and Vila Flor have officially established the Vale do Tua Regional Development Agency. The aim of the Agency is to "enhance the local resources and exploit opportunities created by the Foz Tua hydroelectric plant, which foster the economic, social and cultural development of Vale do Tua.

08 th - EDP no Brasil sponsors exhibition of the country’s history – The "Construtores do Brasil" exhibition, sponsored by Instituto EDP, possesses a collection of 25 images of men and women who have guided the course of the history of Brazil. The exhibition was in São Paulo, where it was exhibited at the Mário de Andrade Municipal Library. The general public will also have access to biographies and documentaries, besides the paintings.

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Apr. (continuation)

11 th – Meeting with local authorities of Baixo Sabor - In order to enhance engagement of the Baixo Sabor hydroelectric plant and local communities, EDP Produção has been in regular contact with the local authorities encompassed by the works’ implantation site. Accordingly, on 24 March, the chairmen of the parish councils of Torre de Moncorvo, Larinho, Felgar, Cardanha and Adeganha and the mayor’s chief of staff of Torre de Moncorvo Municipal Council visited the plant’s downstream development reach.

11 th - EDP in Schools reaches Espírito Santo state in Brazil - After working in the schools of São Paulo, the EDP in Schools programme is now distributing academic kits among the schools of the public education system in Espírito Santo. This initiative was supported by volunteer employees. Will be offered, more than 9,000 academic kits, to schoolchildren of 19 municipalities of the states of São Paulo, Espírito Santo, Rio Grande do Sul, Santa Catarina, Mato Grosso do Sul and Tocantins by the end of April .

12 th - EDP no Brasil implements the “Green Printing” project - EDP has begun to implement printing outsourcing, conducted by the IT and Procurement areas and also by Instituto EDP. The aim is to reduce paper consumption in the company, improve the quality of printing and copying systems, and reduce costs. The programme is based on 3 pillars: environmental, social and economic.

13 th – New EDP head office in Porto - The new building consists of two blocks with a built area above ground of 18,545m2 and has about 1,100 employees. The new building frees up 22 of the facilities currently occupied by the various Group companies, significantly improving the ratios of area occupied and operating costs. The building is also notable for the technological level of the management and control systems and its multiple energy efficiency and sustainability solutions. Examples of this include the photovoltaic panels installed on the roof and façade, the shade-providing strips on the façades, the heating of water using waste heat from the HVAC system and using groundwater for the automatic irrigation system.

13 th - EDP is already on the social networks – EDP has three pages on Facebook: EDP (corporate), ECO programme and the Electricity Museum.

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Apr. (continuation)

14 th – Schools from Sertã, Figueira da Foz and Carregal do Sal visit Lares - 80 students attended a classroom presentation that focused on all the operations of a natural gas combined cycle . After this exhibition a film on the construction of the power station was shown, following which the groups toured the facility.

15 th - Naturgas Energia reaches 10,000 km of natural gas distribution and transportation network – 41% of the network is in the Basque Country, 19% in Múrcia, 19% in Asturias and 17% in Cantábria. The remaining 4% is located in Castilla y Leon, Cataluña, Extremadura, Navarra and Madrid.

19 th - EDP no Brasil, Mariana Resettlement - EDP contributed to improving the quality of life of the community living near the reservoir of the power station at Tocantins, through technical improvements of the irrigation system, electricity and housing .

20 th - "Talent City", EDP is one of 8 founding companies – Talent City is a virtual city in which potential employees and organisations have joined forces to seek out talent. Young people, after registering, are invited to visit and learn more about the companies that are located in this virtual city. Visitors can reply to ads, find career opportunities and discover more about the represented business sectors, respond to the challenges posed by the companies and get answers about the job market.

20 th - Energy Efficiency Activity at Lisbon Zoo, Sustainability Week – EDP, in partnership with TSF, held a treasure hunt at Lisbon Zoo with questions on energy efficiency and safe energy use. At the entrance to the zoo, the children received a passport with the places (the animals) where they had to go. At each location an EDP monitor asks a question on Energy Efficiency and those answering correctly get a stamp in the passport. Children with four stamps can then play the "Wheel of Fortune" and receive a gift. The parents accompanying the children are given an energy saving lamp.

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Apr. (continuation)

20 th - Handout of edp5D Blankets - edp5D promoted a campaign to offer 300 polar blankets, through personalised delivery of ACTT. The recipients were the domestic customers who always used the cinema tickets offered by edp5D.

20 th - EDPR NA commemorates Earth Day at Blue Canyon Wind Farm - Blue Canyon Wind Farm (EDPR NA) and the Western Farmers Electric Cooperative commemorated the annual Earth Day meeting, for the eighth year. More than 300 students and teachers of the local community participated in activities related to the theme of wind.

29 th - Carregado Thermoelectric Power Station awarded medal - Carregado thermoelectric power station was awarded the Silver Municipal Merit Medal Alenquer Municipal Council.

HC Energía receives EMAS registration at Soto de Ribera – The Soto de Ribera combined cycle power station raised its EMAS registration to Group 5.

Soto 3 operates with Royal Decree on carbon – the most modern generating set of the Ribera de Arriba coal-fired power station came into operation in accordance with the Royal Decree on Carbon that encourages the use of domestic coal for generating electricity.

The Solidarity Day project advances towards implementation – The social welfare project for supply of electricity to a health centre in Benin is undertaken by HC Energía employees and by the NGO Energía Sin Fronteras. After preparing the detailed technical study and confirming the availability of funds, the material specifications for the installation were prepared. The logistics preparation for the shipment of the material was also conducted.

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May.

02 sd - EDP Distribuição to tour the country with the “Your Energy” truck - The aim of this roadshow is to take the issue of energy efficiency to the schools of the 1st stage of basic education, in order to integrate the theme into the daily routines of young children and also to raise their awareness of energy efficiency and safe energy use.

02 sd – Exhibition at the Electricity Museum, EDP Distribuição’s Bird Protection Practices - More than 21,000 people of different age groups visited the exhibition, most of them school children. Two short films were shown and leaflets distributed which highlighted the measures that are implemented on the electrical infrastructure carriers to reduce the negative impact on birds. Small badges with images of emblematic species that have benefitted from this initiative were also given out.

03 rd – EDP takes poetry to the schools of Trás os Montes - EDP toured the secondary schools of Trás -os -Montes with the Voz Project, a nationwide initiative organised by Produções Fictícias, covering seven municipalities of the area of influence of the Sabor, Foz Tua and Fridão dams: Mogadouro, Macedo de Cavaleiros, Mirandela, Carrazeda de Ansiães, Alijó, Murça and Mondim de Basto.

03 rd - EDP Distribuição and Leiria Municipal Council sign protocol - EDP Distribuição, strengthening its relationship with local authorities and the local population, signed a protocol for the transfer of land with Leiria Municipal Council, following the urban and environmental renovation carried out under the Polis Programme and the rehabilitation dynamics of the old quarter of the city.

03 rd - EDP Bandeirante in Brazil introduces the Energy Efficiency Program to hospitals and other beneficiary entities – Eight entities will benefit from the Energy Efficiency Program, through a reduction in energy expenses. The programme will invest BRL 925,000 to generate energy savings of 733 MWh/year, equivalent to the consumption of 305 residential units. The action schedule envisages the replacement of 160 electric showers and installation of 147 high energy efficiency solar water heaters.

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May. (continuation)

05 th - EDP Distribuição again joins forces with the Faculty of Engineering of Porto University- As in recent years, students of the Faculty of Engineering of Porto University (FEUP) visited two EDP Distribuição substations.

05 th - Inovação and IEDP will be partners of Portable Light in Pará, Brazil - Inspired on the work undertaken at Kakuma, and sustainability, innovation and social development pillars, the project begins to be prepared in favour of low-income or isolated communities in Pará state. The Innovation area and Instituto EDP, in partnership with IDB (Inter-American Development Bank), and IDEEAS (an NGO focused on making access to electricity universal) has developed the Portable Light Kit. The Portable Light offers flexible photovoltaic panels with a control circuit with battery (3 hours of solar charging) coupled to an LED (4W) and a reflective fabric. It stores energy for lighting (10 hours) and it can recharge small appliances via a USB connection.

09 th - EDP contracts equipment to reinforce Salamonde - Salamonde II is part of the hydroelectric energy investment plan of the EDP Group. This plan will increase the installed capacity by approximately 3,500 MW by the end of the decade. It involves investments of close to EUR 3.2 billion, and will generate about 35,000 jobs directly and indirectly. It will specifically contribute to reducing fuel imports and reducing CO 2 emissions costs. More than 40% of contracts are guaranteed for domestic companies.

09 th - EDP no Brasil introduces electric mobility to the campus of USP university -SP – EDP in partnership with São Paulo University (USP) has introduced electric mobility technology to the university’s campus. EDP will donate 15 electric motorbikes and six battery recharging stations, two of which are hybrids, to be installed throughout the university.

09 th - Mural Painting of Fogueteiro Substation – EDP and the Vale de Chícharos local authority challenged the local population to paint the wall of Fogueteiro substation . The wall was built to ensure the safety of the substation and the residents. Biodiversity was the theme for the mural.

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May. (continuation)

11 th - Porto University Civil Engineering Students visit Baixo Sabor - A group of 30 students and teachers of the Geotechnical and Hydraulic areas of the Faculty of Engineering of Porto University (FEUP) visited the works of the Baixo Sabor hydroelectric plant, in Torre de Moncorvo, on 27 April.

11 th – Mondego Network and Customers host top-level safety initiative - The Mondego Network and Customers Department (DRCM) held, at its premises on Rua do Brasil, in Coimbra, the first safety meeting at the highest level of its structures at the end of April. The meeting was attended by all the actors monitoring the 2010 Rolling Contract.

12 th – EDP and “Dentistas do Bem” in Portugal - 180 voluntary dentists provide free consultations to needy youngsters aged up to 18 years . An initiative of Fundação EDP and the Turma do Bem NGO .

12 th – Inauguration of the Natural Electricity Museum - The municipality of Seia opened the Natural Electricity Museum, during the European Energy Week. The museum is a joint project of EDP and the local municipal council.

13 th – EDP Escelsa will invest 18,000,000 in fighting losses – The gains achieved in 2010 were calculated, representing a 16 GWh decrease in losses from 2009. The plan for 2011 includes investment of 18 million on actions such as : training, campaigns and contact with government officials, 176,000 inspections to combat fraud, dismantling of 120,000 illegal connections, the replacement of 21,038 damaged low voltage meters, the installation of 344 low voltage 0.6 kV measurement sets, the installation of 85 medium voltage 15 kV measurement sets, and the installation of 2,500 remote metering devices (TAD) to minimize meter reading impediments.

34 Highlights 3rd Quarter 2011

May. (continuation)

16 th - Lean pilot project launched in the Corporate Centre, DCG and UNGE - Lean is a methodology for EDP’s ongoing improvement. It is currently implemented in 10 EDP companies, directly encompassing over 2,000 employees and with more than 3,000 improvement initiatives in progress. Following the launch of the Lean Programme in the Information Systems Department in 2008, a lean pilot project of two improvement initiatives began in May, with the aim of extending the Lean methodology in the corporate centre. The chosen initiatives are: Management of information reporting in UNGE and Review of the EDP Group's operational scorecards.

18 th - EDP Bandeirante opens Pedreira Substation, in Itaquaquecetuba – The substation will supplement the supply provided by two other stations in the region, expanding the benefits to about 90,000 medium and low voltage customers. The new unit will have a capacity of 66 .6 MVA, distributed over eight medium voltage feeders . This substation is fed by a new high voltage distribution line consisting of 23 towers.

20 th - All Group certifications in one place, Certipoint - This collaborative application registers and disseminates the certifications awarded the Group by external and independent entities in the fields of Quality, the Environment and Occupational Health and Safety.

24 th - Tergen-Lares, 1000 accident-free days – On 8 May 2011 the operating team of Lares thermoelectric power station recorded 1,000 days without any accidents. This period began on 11 August 2008, with the integration of the production technicians.

24 th - EDP Bandeirante issues Tree Planting Guide for Public Roads and Green Spaces - The initiative, developed with the advice of experts in the forestation field, provides information on the importance and effects of trees in urban areas, as well as related legislation, planning, planting techniques and the management of plants on public roads. This initiative is intended to harmonize the interaction of vegetation with the power supply grids and foster the reduction of the number of outages due to branches and trees falling on power lines. It is prepared based on the sustainability policy of the EDP Group.

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May. (continuation)

25 th - Protocols signed for Fridão Hydroelectric Plant – the protocols were signed between EDP Produção and the municipalities of Amarante, Celorico de Basto, Mondim de Basto and Ribeira de Pena, the municipalities of the area affected by the hydroelectric plant. These protocols are intended to establish the terms and conditions of EDP Produção’s share in regional development projects and the associated amounts.

26 th - For you if you don’t miss school, fostering academic success - Fundação Benfica, Fundação EDP and Mondim de Basto Municipal Council launched the “For you if you don’t miss school!” project with 66 children of the Escola EB 2,3/S Mondim de Basto school. The project aims to combat truancy among children and young people and promote academic success. This project, which began in Amadora, is now expanded to Mondim de Basto, one of the municipalities covered by EDP’s new hydroelectric investments . The “For you if you don’t miss school!” project has more than 600 beneficiaries in 7 territories, and it aims to provide children and young people the opportunity to progress in school through participation in various activities that include not only sport but also lessons of Did you know? (Mathematics), Journalism (Portuguese) and IT.

26 th - EDP opens the doors of the former power station of Feira de S. Mateus – As part of the activities related to the 6th Children’s Municipal Assembly of Viseu, EDP opened the doors of its former power station of Feira de S. Mateus to the 4th Year of Escola de S. Miguel school, of the Escolas Grão Vasco school grouping. The theme of this visit was “ 35 years of local power“, and it gave the students, now wearing the cape of child members of the municipal parliament, an insight, albeit superficial, of the history of this former power station once turned into a museum.

26 th - Porto Grid and Customers Replace Mercury Vapour Light bulbs in the City of Porto - The Porto Grid and Customers Department (DRCP), in partnership with Porto Municipal Council, replaced the mercury vapour light bulbs used for street lighting in Porto. This intervention encompassed the removal of more than 1,000 mercury vapour spotlights and their replacement, mostly with high pressure sodium vapour lamps.

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May. (continuation)

27 th - Learn to enterprise, a challenge that makes us want more - EDP promoted the involvement of its employees in the voluntary Learning to Enterprise programme of Junior Achievement Portugal, a non-profit organisation that aims to develop entrepreneurship, creativity and innovation in future generations. This year’s programmes focused on the subjects: The Family (1st stage of basic education), The Community (1st stage of basic education), The Economics for Success (3rd stage of basic education) and The Company (Secondary Education).

27 th - North Grid and Customers concluded an important phase of the campaign to reduce street lighting in urban areas – The campaign to reduce street lighting in urban areas was the result of a proposal of the Minho and Lima Intermunicipal Community (CIM) , in dialogue with EDP Distribuição. This agreement encompassing all municipalities of Viana do Castelo district consists of selectively disconnecting some circuits at an established time, defined by the municipal councils, except in the zones already equipped with flow controllers. The street lighting control panels of 275 distribution transformer stations benefitted with this measure. At the same time, there is an ongoing campaign that aims to provide all street lighting control panels with astronomical clocks in the 10 municipalities of the Minho and Lima Intermunicipal Community.

30 th - Energy efficiency projects of EDP Escelsa, in Brazil - Through the Good Energy in the Community programme, the distributor has already benefited 240 districts of Grande Vitória and other regions of the state. In March, EDP in Brazil began the replacement of 5,000 old refrigerators for low-consumption refrigerators bearing the PROCEL seal. The customers receiving the new refrigerators were selected from a survey conducted by EDP Escelsa of 135 million homes, mainly aiming at harmonising customers’ grid connection and meter cabinets. Since 2008, 424,000 incandescent bulbs have been exchanged for fluorescent bulbs and 27,000 electricity meter cabinets have been installed in new consumer units and also in those with older models, in a rundown state, that created a risk for the customer and the community.

37 Highlights 3rd Quarter 2011

May. (continuation)

31 th - Schools of Trás-os-Montes visit the EDP greenhouses – As part of the Biodiversity Policy of EDP regarding the Involvement of the School Community, students of the 5th and 6th year of Escola EB 2/3 Sendim school in Miranda do Douro visited the EDP greenhouses in Setúbal, on 19 May, to see the germination of the seeds they had collected last autumn in the areas affected by the Picote, Bemposta and Baixo Sabor dams. This visit to monitor the evolution and growth of seeds is part of the second stage of landscape recovery associated with the Group’s hydroelectric projects underway on the international section of the River Douro and at Baixo Sabor. The first stage of the project was the collection of seeds, and it will be concluded early next year when the same children plant the germinating plants in Trás-os-Montes. The reforestation of the areas surrounding the zones to increase the capacity of Picote and Bemposta and the Baixo Sabor hydroelectric plant form part of the package of environmental offsetting measures that EDP is bound by under the environmental impact statements. The company must use native species and also reforest an area in excess of that to be covered by the dam reservoirs .

38 Highlights 3rd Quarter 2011

Jun.

01 st - Coimbra Engineering School Students visit North Control Centre - The main aim of the visit was to show the operation and main responsibilities of an EDP control centre, as well as visit the Alto de S. João substation.

02 sd - Ribatejo power station supports local authority initiative on World Children’s Day – Several hundred children visited Quinta da Piedade, in Póvoa de Santa Iria. In an initiative organised by Vila Franca de Xira Municipal Council, various organisations of this community were invited to help turn the event into a reality. EDP provided transport as well as t-shirts and caps to equip the organisation and all the volunteers taking part, including the elderly and disabled persons.

02 sd - EDP Solidária 2011 supports a further 27 social welfare projects - 27 projects will receive support from Fundação EDP through the EDP Solidária 2011 programme . A total amount of EUR 425 ,000 will be made available for those projects . The EDP Solidária programme, which is already in its 8th year, is now one of the largest third sector support programmes in Portugal. This year it received a record number of 756 applications. The number of institutions supported by Fundação EDP through this programme, including the projects selected for the 2011 period, has grown to 104, which overall support more than 650,000 direct beneficiaries.

03 rd - EDP inaugurates Roman Blandey Wind Farm - With an installed capacity of 10 MW, the Blandey Roman wind farm is the first to start operating in the l'Eure region of Upper Normandy. EDPR currently has 25 wind farms in France with an installed capacity of 284 MW.

03 rd - InovCity in Évora is made a European reference project - InovGrid was selected by the European Commission and Eurelectric as a single case study from among more than 260 Europewide projects of smart energy networks. InovGrid was chosen because it demonstrates, in an integrated and comprehensive manner, the many benefits of smart grids in their core areas: customer/consumer and operator and distributor of electricity, through a service of improved quality, more information to the consumer, allowing them to have an active participation in managing their consumption and ensuring greater operating efficiency by the operator.

39 Highlights 3rd Quarter 2011

Jun. (continuation)

06 th - Electricity Power Station in KidZania – On 28 May EDP opened the electricity power station at KidZania, where children will have the opportunity to develop a series of activities through which they can learn more about the various sources of energy and energy efficiency before putting into practice, immediately afterwards, the knowledge acquired by choosing one of three trades: electrician, energy efficiency auditor or wind farm technician. As a way of raising awareness on the theme of Energy among youngsters, EDP and KidZania celebrated Energy Week, providing special activities for all children who work in the EDP electricity power station.

09 th - Energy Certifications reach EDP stores - EDP Serviços organised, together with Home Energy, the company it has recently taken over, a training session for the managers of the EDP Soluções Comerciais stores. The aim was to explain the business process of selling energy certifications and thus boosting sales through the commercial channels of EDP . The national legislative framework of energy certifications was presented as well as details of the product that EDP is preparing to launch, such as certification models, pricing structure, the main advantages and selling points, in addition to the main differentiating factors of the product.

14 th - South Grid and Customers offers vehicle to Mourão Voluntary Fire Brigade - A special vehicle with four-wheel drive was offered, which will equip this fire brigade with the means to establish a team specialising in boat rescue operations at the Alqueva reservoir.

14 th - EDP Escelsa opens 21 customer service branches in Espírito Santo, Brazil - EDP Escelsa now has a total of 69 branches, covering more than 300,000 inhabitants. In September another facility will open, taking its branches up to 70 in its concession area, covering 70 municipalities of the state. A guideline used for the opening up of the new branches was the preference for local labour, in order to generate jobs in the municipality and making good use of the knowledge of the customers of that location.

40 Highlights 3rd Quarter 2011

Jun. (continuation)

16 th - EDP takes over the Santo Antônio do Jari hydroelectric power station, in North Brazil – Construction is envisaged for the 3rd quarter of this year in the states of Pará and Amapá. The installed capacity will be 300 MW, corresponding to an average 196.1 MW of guaranteed energy, already approved by ANEEL, of which 190 MW have been sold at auction A-5 in December 2010 for a period of 30 years to 31/12/2044, when the concession end. The project also envisages the addition of 73.4 MW of installed capacity, which is pending approval by ANEEL. The construction permit issued by IBAMA already encompasses that capacity increase.

18 th - HC Energía celebrates the Nature Festival at Siero – HC Energia customers and employees commemorated Nature Day at Bosque de la Acebera. The activities included the planting of trees, as part of the Fundación HC Energía project to plant indigenous trees .

21 th - Monitoring Audit and extension of the EMS in EDP Distribuição- Lloyd's conducted another Monitoring Audit and Extension of the Environmental Management System (EMS) of EDP Distribuição, which is certified according to NP EN ISO 14001, between 23 May and 3 June. A further 22 substations were included in the EMS, in addition to the 18 already covered by the system. Therefore, the EMS covers a total of 40 substations, about 10% of the total number of such facilities.

21 th - 2011 EDP Prevention and Safety Meeting – The meeting took stock of 2010 and discussed new guidelines for this area. The ceremony for the award of the EDP Prevention and Safety in the Workplace Prize was also held.

21 th - University students given tour by EDP Escelsa, in Brazil - EDP, through the IV Capixaba Energy Forum, offered 25 students of the engineering faculties of Grande Vitória the opportunity to visit the group’s facilities in Espírito Santo.

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Jun. (continuation)

22 th - Environment and safety strengthened at Fratel dam – Fratel hydroelectric plant located at Amieira do Tejo, in Nisa municipality, mounted a grid cleaning system that will now begin operating on a trial basis. This system will improve the environmental performance of the power station of this development. The system permits the effective cleaning of the grids of the generating sets, which will improve operating conditions and reduce generation losses and operating costs.

22 th - EDP no Brasil, wildlife monitoring studies at Tramandaí Wind Farm, Rio Grande do Sul - During the works to construct the wind farm, EDP Renováveis employed an environmental officer. EDP Renováveis acted in two planes to protect wildlife: one work front carried out the monthly monitoring of fauna, which consisted of analyses of reptile, amphibian, mammal (land and flying) and bird groups. A team of biologists and veterinarians was also present during the works, which made the identification, marking and relocating of Flamarion’s tuco -tucos (Ctenomys flamarioni) that were in the earth excavation and movement areas, to prevent their injury. This species only occurs on the coast of Rio Grande do Sul and it is in imminent danger of extinction. A total of 51 tuco-tucos were relocated.

24 th - EDP seals partnership with Novos Povoadores - EDP, Novos Povoadores and Alfândega da Fé Municipal Council are going to advance with a pilot project to encourage the new families to move to these municipalities. The initiative, officially signed on 29 June, aims to meet one of the main expectations found by EDP in the surveys conducted in the regions covered by the new dams. The creation of conditions to retain young people and attract new residents is at the top of the list of concerns, alongside jobs and tourism development. EDP draws on the experience of Novos Povoadores, which has been developing the concept of repopulation of the areas of the country that have lost most residents through the migration of urban families. The project will be financed by EDP, under the range of initiatives to promote development in the municipalities covered by new hydroelectric investments.

25 th - EDPR NA employees volunteer in an Animal Shelter – Under the EDP Volunteering programme, 25 employees of EDPR NA and their families took part in a voluntary event at the Animal Shelter and BARC adoptions in Houston, Texas.

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Jun. (continuation)

26 th - EDP in Brazil launches 2011 Culture and Sports Policy – The Group companies will select cultural and sporting projects to be sponsored in the municipalities where it operates in the states of São Paulo, Espírito Santo and Tocantins. The public selection process will focus on projects aimed at children and young people aged up to 21 years and the population with the lowest income level.

27 th - Mondego Grid and Customers promotes proximity to local communities - In line with the policy of proximity to local communities adopted by EDP Distribuição long ago, the Mondego Grid and Customers Department donated an all-terrain vehicle to Salzedas Parish Council, of Tarouca municipality.

28 th - First Stage of the repowering of Mascarenhas hydroelectric power stations, in Espírito Santo, completed - EDP completed the repowering of the third generating unit of Mascarenhas hydroelectric station, at Baixo Guandu, Espírito Santo, thereby increasing power generation by 8.5 MW. This project strengthens the country’s electricity sector and ensures even better quality for our customers. The completion of this project means that the installed power at the hydroelectric station is raised from 180.5 MW to 198 MW.

th 28 - EDP sponsors the Cascais CoolJazzFest 2011 Festival and offsets the CO 2 emissions - By offsetting all the emissions of the Festival - 346 tonnes of CO 2 emissions - EDP is supporting a sustainable project: the construction of the Babilónia small hydroelectric power station, Honduras. The offsetting includes generators, festival vehicles, giveaways and materials, waste, mobility of spectators, event coordination, mobility, accommodation and flights for the bands, among other festival logistics. The main goal of the small hydroelectric power project is to avoid building new thermoelectric power stations in the area and generate energy in a safe and clean way. The offsetting process for festivals and events involving EDP supports the issuance of neutral emission certificates®.

29 th - EDP in Brazil keeps its ISO 9001:2008 certification – Following the external audit, which occurred on 20 and 21 June, EDP kept its ISO 9001:2008 certification for the fields of Data Collection and Analysis of Technical Indicators of Quality and Energy Efficiency Programme.

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Jun. (continuation)

30 th - Sustainability and Annual Report of the EDP site in Brazil gains an adapted version – The area and material is accessible to disabled persons following these changes, allowing them to navigate without difficulties. All changes were made based on W3C recommendations for accessibility (the international community that sets the standards for the Web).

30 th - EDP Renewables meeting with shareholders – On 11 June, EDP Renewables held its third annual meeting of shareholders, in Oviedo, Spain.

HC Energía publishes its 2010 Sustainability Report – Under the theme of “A World of Smart Energy”, HC Energía published its Sustainability Report for the eighth consecutive year. This publication follows the guidelines of the GRI G3 guide, with an A + application level .

“Feel Our Energy” reaches Múrcia, in Spain – The education programme in which more than 10,000 children of Asturias and the Basque Country have participated has now come to the region of Murcia for the 2011-2012 academic year. Like the programme in Portugal, this is an opportunity for children aged between 6 and 9 years to learn about energy sources, energy efficiency and be advised on safe ways to use electricity.

44 Highlights 3rd Quarter 2011

Jul.

01 st - The day EDP in Portugal celebrated 35 years, was presented its new brand - Present in 13 countries and with more than 60% of EBITDA generated outside Portugal, EDP is now a multinational, therefore needs a brand that accompanies this evolution and reflects the ambitions for the future. The new brand, whose creative director is Stefan Sagmeister, reaffirms the strategy of internationalization and helps to standardize the company's presence in all markets where it already exists. Human, sustainable and innovative, are the pillars of the EDP and the new brand. The commitments are translated into new images: We work for people and communities, with an attitude responsible for environment and strongly committed to innovate.

05 th - Environment and sustainability meeting at EDP Distribuição - The third meeting was organised by EDP Distribuição. It was attended by around 120 senior managers from EDP Distribuição and some guests.

06 th - Associação Portuguesa de Engenharia do Ambiente (APEA) visits Alqueva hydroelectric power station - A group of 35 members of the Southern Region Unit of the APEA paid a technical visit to the power station.

06 th - Management Centre receives Inovgrid training - The low voltage management centre began more training sessions on the subject. Three sessions were held in June with the collaboration of the Lisbon Network and Customer Department.

07 th - EDPR employees work as volunteers with local children in Spain - EDPR hosted educational workshops for 70 at-risk children who participated in an urban summer camp near Madrid on July 7. Employees helped children from low-income households between ages 4 and 14 learn about wind energy technology, while improving their teamwork and social skills at the same time.

45 Highlights 3rd Quarter 2011

Jul. (continuation)

07 th - EDP Distribuição attends signing of Alto Minho local authority agreement - The 10 municipalities of the Minho Lima Inter- municipal Community signed a local authority agreement, as encouraged by the European Commission, designed to establish voluntary commitments to reduce CO2 production by 20% up to 2020. A delegation from EDP Distribuição attended as a member of the Minho Lima Energy Agency. It consisted of employees from the Northern Network and Customer Department and from the Institutional Relations Office.

07 th - Fundação EDP starts Hortas Solidárias programme - This is an EDP Solidária programme, to which a number of charities applied with plans for vegetable gardens that will foster the social integration of disadvantaged people. The first 10 urban vegetable gardens are in Algarve, Lisbon, Aveiro, Condeixa, Matosinhos, Santarém, Sintra, Telhal Braga and Ericeira. This month, a call will be sent out for bids from architecture and design students to build garden sheds . The project is a partnership between Fundação EDP and Fundação Gulbenkian.

07 th - Medical centre at Foz Tua opens - The medical centre at the site of the future Foz Tua Hydroelectric Plant in the districts of Vila Real and Bragança in Trás-os-Montes went into operation on 4 July. The one male and seven female nurses were recruited locally by Sãvida.

07 th – EDP no Brasil creates closer relationship with suppliers - Two meetings in São Paulo bring together EDP Group partners: The idea was to monitor the performance of the EDP Group's suppliers of materials and boost the development of material quality and supplier management. All service providers in a wide variety of sectors are evaluated on the basis of the following areas: quality, logistics, sustainability, certification and innovation. The first event focused on quality area. At the second event EDP received its suppliers to concentrate on innovation and sustainability.

46 Highlights 3rd Quarter 2011

Jul. (continuation)

08 th - EDP donates vehicles to Seia parish councils - The Tejo-Mondego generation plant donated two four-wheel-drive pick-up trucks to the parish councils of Vila Cova à Coelheira and Lapa dos Dinheiros in the municipality of Seia, Guarda. These councils will now be able to make the most of their primary intervention fire-fighting kits and a number of other services that will certainly play an important role in watching, maintaining and preserving these areas in a sustained fashion.

11 th - Volunteer Program in EDPR NA - Employees in EDPR NA’s corporate office, located in Houston, Texas, participated in a food drive, volunteered at the Houston Food Bank, and spent a Saturday constructing walls for Habitat for Humanity. Employees were incentivized to bring in non-perishable food items with a $50 American Express gift card raffle prize. On the last day of the food drive, employees were encouraged to spend four hours volunteering at the Houston Food Bank to assist in moving the food bank to a new location .

11 th - Occupational health and safety meeting - As part of the goal of constantly improving occupational health and safety (OHS) at thermoelectric generation plants, the Thermoelectric Generation Department at EDP Produção held a meeting at the Setúbal generation plant with representatives of the companies that provide services to the plant. The subject was Service providers as partners in OHS activities . Attendance was good and the 24 companies present were highly representative of outsourcing at the company's thermoelectric generation plants.

12 th - Secondary fuel management network in safety corridors - The Maintenance Department at EDP Distribuição held fuel management campaigns in the overhead medium and high voltage line safety corridors in the first half of 2011. These campaigns are covered by the municipal forest fire prevention plans and are part of the secondary network of fuel management corridors.

14 th - Northern Network and Customer Department donates vehicle to Miranda do Douro - A pick-up truck at the end of its tax life but still in good condition was donated to help social support associations.

47 Highlights 3rd Quarter 2011

Jul. (continuation)

14 th - EDP Distribuição signs agreement in Aljubarrota - As a result of an agreement signed on 1 June by João Torres, Chairman of the Board of EDP Distribuição, and Alexandre Patrício Gouveia, President of the Battle of Aljubarrota Foundation, part of the land on which the battle was fought on 14 August 1385 is going to be landscaped and opened to the public as part of the battle interpretation centre. EDP Distribuição donated the land that it owned in the municipality of Porto de Mós, to the foundation. It includes the S. Jorge Substation, which will also be remodelled, at a cost of 1.5 million euros.

15 th – EDP no Brasil begins mobilisation for construction at Santo Antônio do Jari - Work began in preparation for the construction of the Santo Antônio do Jari hydroelectric power station on the border of the states of Pará adnd Amapá with the despatch of the equipment for the building site and the start of civil engineering work. EDP acquired the operating rights for the power station in June this year . When it goes online in January 2015 , it will add 373 MW to the installed capacity of EDP no Brasil .

16 th - Parish of Valadares visits Ribeiradio-Ermida - A group of 34 people from the local authorities and associations, along with inhabitants from Valadares visited the construction site of the future Ribeiradio-Ermida hydroelectric plant.

17 th – Brinches Substation opens - The Brinches substation was opened during the 2011 EDP Distribuição Roadshow in the presence of the Serpa local authority. The work cost 5 million euros and improved quality of the power distribution service in Serpa, Moura and Vidigueira.

48 Highlights 3rd Quarter 2011

Jul. (continuation)

20 th - Mineral coal reaches Pecém at EDP no Brazil - 77,000 tonnes imported from Colombia reached the Port of Pecém and will be carried to the power station on a conveyor belt central. The first burn is scheduled for the second half of 2011. When it goes into commercial operation at full power, each boiler will be able to burn up to 140 tonnes of mineral coal per hour. EDP, in partnership with the state of Ceará, built a conveyor belt to carry coal from the port to the power station. The 12.8 km-long belt is enclosed in a tube to minimise environmental impacts.

21 th - EDP sponsors re-introduction of osprey in Portugal in partnership with CIBIO and Universidade do Porto - Every year, 10 birds will come to Portugal over at least five years to restore the breeding population of the species, which stopped nesting here at the start of the last decade. The ICNB has collaborated in the work, which is being done in partnership with the SAIP, TAP and EDIA . The project involves researchers from the donor countries, Finland and Sweden, and enjoys the close cooperation of partners in Spain, where a similar project has been successfully under way since 2003. The first 10 eagles (5 each from Finland and Sweden) are now in Portugal and are in a natural area near Alqueva, where they will become acclimatised to the country.

21 th - Lean Project reaches EDP Escelsa in Brasil - EDP endeavours to provide its customers with good service and optimise its customer care units using another stage of the Lean Project entitled “Reducing Commercial Complaints” undertaken by the Commercial Department at EDP Escelsa. It achieved a 47.7% reduction in complaints between January 2010 and May 2011. 25: EDP Renováveis executes project finance for 70 MW in Brazil - EDPR has executed a project finance structure agreement with the Brazilian Development Bank for its 70 MW Tramandaí wind farm in Brazil, in the State of Rio Grande do Sul.

25 th - EDP Renováveis executes project finance for 70 MW in Brazil - EDPR has executed a project finance structure agreement with the Brazilian Development Bank for its 70 MW Tramandaí wind farm in Brazil, in the State of Rio Grande do Sul.

49 Highlights 3rd Quarter 2011

Jul. (continuation)

26 th - Opening of Santa Marinha Substation in Gaia – EDP Distribuição will have greater response capacity in terms of consumption and quality of service to end users. Urban landscaping and environmental aspects were given substantial consideration.

28 th - EDPR inaugurates new 70 MW wind farm in Korsze, Poland - The new wind farm is EDPR ´s second in the region. The first is located in Margonin in Wielkopolskie Province. First construction phase, 24 wind turbines, each 2 MW, were erected. Then 11 more units of similar capacity were built during the second phase.

Customers in Fiesta de la Naturaleza in Spain – More than 5,000 people participated in the first Fiesta de la Naturaleza organised by Fundación HC Energía in Bosque de la Acebera in Siero . In addition to planting trees in the 'one customer, one tree' programme, more than 1,200 people took part in workshops there. Recognising plant species and identifying wild birds and animals were some of the activities. There were also children's games. The 'one customer, one tree' programme has made it possible to plant 50,000 native species of trees in Astúrias.

50 Highlights 3rd Quarter 2011

Aug.

01 st – EDP no Brasil - Tramandaí Wind Farm - Since the wind farm went into operation in May this year, it has raised the installed capacity of wind-power facilities in Brazil to 1,000 MW. It has a capacity of 70 MW and its 31 turbines generate electricity for some 200,000 inhabitants.

05 th - EDP week at citizens' bureaus promotes microgeneration - EDP was present once again at the initiative organised by the Administrative Modernisation Agency (AMA) to publicise its partners at each citizens' bureau. EDP informed customers of the new feature in its portfolio of products and services: microgeneration. The campaign took place in Aveiro, Braga, Porto, Faro and Viseu.

08 th - EDPR NA Participates in Health and Safety Alliance - The American Wind Energy Association (AWEA) and the U. S. Department of Labor’s Occupational Safety and Health Administration (OSHA) entered into an official Alliance to protect the health and safety of wind industry workers. This alliance provides the possibility of foreseeing a mechanism to make available information on occupational safety and health laws and standards, including the rights and responsibilities of workers and employers, primarily for operating wind farms.

09 th – EDP no Brasil - cultural and sports circuit at Investco - In August, the towns around the reservoir of the Luís Eduardo Magalhães hydroelectric power station received workshops, theatre, competitions and shows. The initiative was sponsored by Instituto EDP, under the law Lei Ruanet de Incentivo à Cultura and local authorities.

18 th - Ribeiradio-Ermida, visit from the parishes of Arcozelo das Maias and Sejães - These parishes paid their first visit to the construction site of the Ribeiradio-Ermida hydroelectric plant. The 38 visitors, who included local inhabitants, the chairman of the parish council, members of the parish assembly and representatives of local organisations attended a presentation of the project at the site offices and then visited the main work fronts.

51 Highlights 3rd Quarter 2011

Aug. (continuation)

25 th - General Meeting, shareholders approve end of state's special rights - An extraordinary general meeting of EDP approved the end of the state's special rights in the company, with 94 % of the capital represented at the meeting voting in favour. There was a quorum of over 71 % of the capital represented.

25 th - EDP Distribuição reflects on four strategic facets - The macrostructure of EDP Distribuição held a reflection day on the initiatives in each facet of the EDP Distribuição programme 2012 - Controlled Risk, Higher Profits, Excellent Service Quality and Constant Innovation. The conclusions reached will be considered in the EDP Distribuição 2012-2015 Strategic Plan.

30 th – EDP no Brasil, EDP Escelsa will invest R$ 25 million in energy efficiency - Communities, neighbourhoods, hospitals and schools will receive projects aimed at the safe, rational use of electricity in the state of Espírito Santo by the end of 2012 .

HC Energía acknowledges its grant holders – Fundação HC Energía organised a diploma-giving ceremony for the more than 160 students who participated in the latest grant programme, thereby accrediting their internships at the company.

52 Highlights 3rd Quarter 2011

Sep.

01 st - EDP implements Iberian messaging platform - The Iberian messaging platform went into operation on 1 September as part of the ShareCom programme. It was managed by EDP Soluções Comerciais and resulted from a strong commitment from the ecustomer (EDPSC), DSI, Logica and Link teams. The EMS (Enterprise Messaging System) makes it possible to send text and email messages to customers, initially related to three priority services. Messages are sent to ask customers to read their meters on behalf of EDP Distribuição. With regard to electronic bills, on behalf of the suppliers EDP Serviço Universal and EDP Comercial, proactive messages are sent when an email with an invoice is not delivered to the customer (full inbox, incorrect domain, etc) providing the payment information. Disconnection notices on behalf of EDP Serviço Universal inform customers that the payment deadline expires the following day and remind them of the ATM payment details.

01 st - EDP donates vehicles to Bemposta Blood Donors' Association - Pursuant to the EDP Group's policy of social responsibility and ties to local communities, EDP Produção donated a vehicle to the association based in Mogadouro, Trás-os-Montes.

02 sd - EDP no Brasil receives ethics stamp from Controladoria Geral da União (CGU) - The Ethics Stamp was devised by the CGU for companies with good governance and ethical standards in the market. It was created in 2010 to acknowledge companies that prove to be “committed to ethics and integrity”, according to the CGU. The stamp is awarded by the Comitê Gestor do Cadastro da Empresa Pró-Ética, consisting of representatives of the CGU, Instituto Ethos de Empresas e Responsabilidade Social, National Confederation of Industry (CNI), Federação Brasileira de Bancos (Febraban), BM&F Bovespa, the Ministry of Development, Industry and Foreign Trade, Agência Brasileira de Promoção de Exportações e Investimentos (Apex), Instituto de Auditores Independentes do Brasil (Ibracon) and Serviço Brasileiro de Apoio às Micro e Pequenas Empresas (SEBRAE).

53 Highlights 3rd Quarter 2011

Sep. (continuation)

02 sd - MEPs visit Ribeiradio-Ermida site - The Socialist Party MEPs António Correia de Campos and Vital Moreira visited the construction site of the future Ribeiradio-Ermida Hydroelectric Plant in the municipalities of Oliveira de Frades and Sever do Vouga. The visitors also included PSD and PS MPs Maria Ester Vargas and Acácio Pinto as well as local councillors from the area. These visits are part of EDP's strategy of keeping all quadrants of society informed about the reasons for and progress of hydroelectric projects. The visitors were welcomed and accompanied by António Ferreira da Costa, CEO of EDP Produção. In addition to the members of parliament, the group also included the mayors of Sever do Vouga, Vale de Cambra, Estarreja and Tabuaço. Two councillors from Aveiro and Santa Maria da Feira also attended.

09 th - Assembly of 12,000 astronomical clocks completed - As part of the Energy Regulator's (ERSE) 2009-2010 and 2011-2012 consumption efficiency plans, the assembly of around 12 ,000 astronomical clocks was completed by the network and customer departments to control street lighting and reduce the bill. This work was partially funded through ERSE and was performed in close cooperation with the Commercial Department and local authorities, especially in the selection of the most critical municipalities and circuits.

12 th - “Living Science” Programme: Engineering in summer at the Ribatejo thermoelectric power station - For the second time this year, there was a guided tour as part of the Living Science programme. The 47 participants learned about generation technologies and asked a wide variety questions on energy matters.

13 th – In Spain 7,500 Basque pupils participated in a ground-breaking education programme on energy and sustainability – Pupils aged from six to 10 participated in an EDP educational project ¡Viva Nuestra Energía! From anuary to June they attended 355 classes at 51 education centres in the Basque Country. In Bizkaia 3,300 pupils were involved, in Gipuzkoa 2,200 and in Álava 2,000.

54 Highlights 3rd Quarter 2011

Sep. (continuation)

15 th - Study grants for do EDP Group employees and their families - A Fundação EDP, in a partnership with Fundação Ricardo Espírito Santo Silva, offers four grants for technical and artistic courses and education, training courses at Instituto das Artes e Ofícios and technological specialisation courses at Instituto das Artes e Ofícios and Escola Superior de Artes Decorativas. The grants cover 50% of monthly fees in the 2011/2012 academic year.

15 th - The Great Lakes Region Gives Back to the Community - EDPR NA employees in the Great Lakes Region since May 2011, have participated in monthly volunteer events, including Wheeler Mission, Second Helpings, and Habitat for Humanity.

19 th - EDP begins second wave of rebranding campaign - This second wave is just as creative as on television, radio and the internet, but has new, different features bursting with creativity on hoardings and in the press .

20 th - EDP Renewables inaugurates 2 wind farms in France - The 2 farms, with capacities of 15 MW and 18 MW, are located in central France. The group is France's 4th largest wind power operator. Coordination and monitoring with local stakeholders is paramount.

21 th - Employees do good works at EDP Valor - Raízes is an association that operates in the area of protection and the fight against poverty and social exclusion, particularly for children and young people with no proper family or institutional support. Its main aims are to helping children and young people, families, social and community inclusion and education and vocational training. The idea of this action was to step up the spirit of mutual assistance and foster a culture of corporate social responsibility at EDP Valor.

55 Highlights 3rd Quarter 2011

Sep. (continuation)

22 th - Santarém operational area helps reclaim heritage in Cartaxo- As part of the Cartaxo local authority's plan to remodel streets for 2011, the Santarém operational area (AOSTR) of the Tejo Network and Customer Department recently completed the transfer of the low voltage overhead line underground in Rua Mouzinho de Albuquerque in Cartaxo. The work of the AOSTR thus helped to restore Cartaxo's historical heritage.

22 th - Plan to promote environmental performance (PPDA) organises workshop - As part of the PPDA 2009-2011, an in-house workshop was held in Coimbra. It was attended by employees from different departments and had the support of employees from the Environment and Sustainability Office and the Planning Department. They analysed the manuals developed by partners in Measures 1 (Landscaping), 4 (Fuel Corridor Management) and 6 (Prior Assessment of Environmental Impacts of EDP Distribuição Infrastructures) as a result of the joint work with EDP Distribuição in the last three years . Around 50 participants attended. The workshop included a working session with the active, interested participation of employees from different departments and the support of employees from the Environment and Sustainability Office and Planning Department, which manage the measures and partners (FloraSul, Universidade do Porto/CIBIO and IST).

26 th - EDP Valor in iServ - This programme began with the collection of technical data on HVAC systems in the buildings managed by Valor. It main aims are to reduce energy consumption in HVAC systems in office buildings, reduce the frequency of audits and inspections, with the resulting savings, redesign regulations on buildings' energy performance, create consumption benchmarks per sector and activity, create an online database for the analysis and comparison of energy consumption and participate in the implementation of new efficiency standards adjusted to the reality of the Group's buildings.

56 Highlights 3rd Quarter 2011

Sep. (continuation)

26 th - Technology and Innovation Department completes standard for light flow regulators - As part of Initiative 6 - Street Lighting in "Excellent Quality of Service", the Board of Directors approved standard DMA-C71-400N on light flow regulators. The standard will fully clarify the required technical characteristics for this equipment, in addition to the functional specifications described in DEF-C71-400N and the installation conditions in DIT-C71-400N. EDP Distribuição will now be able to purchase this type of equipment.

26 th - Tennessee Valley Authority and EDPR NA - EDPR NA signed a 19-year Power Purchase Agreement (PPA) for the full 100.65 megawatts (MW) of Lost Lakes Wind Farm with Tennessee Valley Authority (TVA). The PPA will start January 2012.

27 th - EDP Gás employees at give new colour to Casa dos Rapazes - 82 employees from EDP Gás did different jobs, such as painting, putting up beds, bedside tables and curtains in rooms, placing sofas and pouffes in the living rooms, cleaning and recycling and preparing lunch and an afternoon snack for the children and young people at the institution.

In Spain, more than 200,000 contracts with electronic invoices have been signed in the “Un contrato, un árbol” campaign - EDP plants a tree for each of these contracts. Its commitment at present is to plant more than 75,000 trees in collaboration with Fundación HC Energía and the environment departments at HC Energía and Naturgas Energía.

In Spain, Gijón will have its first public electric vehicle charging stations – Ayuntamiento de Gijón, Calle de Canga Argüelles and Estadio del Molinón will be the three locations of the first electric vehicle charging stations anywhere in Asturias. The Mayor of Gijón, Carmen Moriyón, and the director of HC Energía, Javier Sáenz de Jubera, signed an agreement making Gijón a pioneering city in the sustainability movement.

57 Highlights 3rd Quarter 2011

Sep. (continuation)

In Spain, Energía e Industria de Toledo (EITO) receives ISO Quality and Environment certification – Energía e Industria de Toledo received the ISO 9001 and ISO 14001 certifications already achieved by Sidergas and Sevares. The greatest impact of HC Energía is from electricity generation and so it has environmental management systems at all its thermoelectric and hydroelectric power stations, which have ISO 14001 certification from AENOR. The combined cycles at Castejón and Soto de Riber, hydroelectric power stations and the Sidergás also have EMAS registration.

HC Energía - district heating system installed in Ecojove - HC Energía and Giroa are installing home heating systems in Ecojove. This is a unique "eco-neighbourhood " in Spain, where 1,900 council homes will be built with the highest energy qualifications and the latest advances in environmental sustainability in the parish of Jove. A centralised district heating system will combine gas boilers and biomass with cogeneration motors, which will reduce carbon dioxide emissions by around 40 % and the energy bill by at least 10%.

Success of "La Ruta de la Energía" with 12% more visits than in 2010 - HC Energía was at FIDMA with "La Ruta de la Energía" (The Energy Route) and also had several stands in different pavilions that received more than 100,000 visits, 12% more than the previous edition. In the commercial area, more than 11,000 new contracts for home and business products and services were signed and more than 10,500 exchanges were made in the points programme. This year, 29,180 people completed La Ruta de la Energía . The more than 6,500 children who visited the kids' area learned how to use energy properly and responsibly in workshops and theatre and enjoyed the bouncy castles.

HC Energía committed to equality - HC Energía was appointed a collaborating entity of the "Directorio de Empresas del Território comprometidas con la igualdad". This Gijón City Council project enjoyed the collaboration of more than 50 companies in Asturias and its aim was to share knowledge and good practices in their commitment to equality and corporate social responsibility.

58 Highlights 3rd Quarter 2011

Sep. (continuation)

In Spain, Soto desulphuriser in full operation - The desulphurisation plant at Soto de Ribera is in full operation and is able to eliminate the sulphur from gases and produce commercial quality gypsum. Laws on national coal in Spain set out the procedure for solving restrictions by guaranteeing supply and include 10 coal-burning thermoelectric power stations, such as Group 3 at Soto de Ribera. These laws develop a new electricity system adjustment service that facilitates operations at thermoelectric power stations using Spanish coal.

Registration in EMAS at EDP Produção - In line with the goals set in its Programme of Activities for 2011, EDP Produção has completed another stage in the plan established by its Board of Directors in 2007, which was registration of its thermoelectric and hydroelectric facilities with the Eco-Management and Audit Scheme (EMAS).

Children's charitable initiative in Lorca, Spain - More than 2,000 children in Lorca participated in a charitable initiative for local children. It was sponsored by Naturgas Energía and created a free, recreation area in Alameda de las Columnas every Friday from July to September. The playground occupied an area of 200 m2.

59 Notes 3rd Quarter 2011

60 Notes 3rd Quarter 2011

Notes: The figures reported have not been audited;

The figures reported exclude information for the Trillo nuclear power station.

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